The Staffing Firm Guide to Navigating a Recession

Some Economists like to say that business cycles do not die of old age. Instead, recessions are often kickstarted by policy missteps, bursting asset bubbles, or geopolitical shocks.

UNCERTAINTY NOW, AND AHEAD

A series of shocks in the last few years - COVID-19, conflicts abroad like the war in Ukraine and Gaza, and new administration tariff policy have had a big economic impact in the US, with a stagnant job market, business activity freezing, and consumer spending taking a hit. Years later, we are still feeling the effects. Inflation and interest rates remain high, with groceries and other consumer prices inflated, and the Federal Reserve is trying to keep everything in check by raising or keeping steady the benchmark interest rate.

To help staffing firm owners during all this uncertainty, we put together this guide on what a recession means for staffing and what can be done to navigate through and come out the other side.